Harmony Gold Mining Co. Ltd (HMY)
NYSE:HMY
Earnings Data
Report Date
Sep 01, 2026Before Open (Confirmed)
Period Ending
2026 (Q4)Consensus EPS Forecast
1.3Last Year’s EPS
0.57Same Quarter Last Year
Based on 1 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a strong beat-and-raise message: material profit growth, margin expansion, loan book reacceleration and demonstrable operating leverage from Stellare 2.0. Management upgraded FY26 guidance and laid out credible product and distribution initiatives (mobile app, auto, revolving credit) to accelerate the customer flywheel. Lowlights were limited and largely manageable: a slight uptick in credit losses (still within target), FX headwinds to reported balances, early-stage nature of new products and modest provisioning adjustments. Funding and liquidity appear well-covered, and the business remains capital-efficient. Overall, the positives — significant profit and margin gains, strong ROE, clear scalability and an upgraded outlook — materially outweigh the negatives.Company Guidance
Record Half-Year Profit
Statutory NPAT of $6.1M for H1 FY26, up 202% year-on-year; cash NPAT also $6.1M (non-cash adjustments netted to 0) and exceeded FY25 full-year cash NPAT of $5.7M (cash NPAT growth cited at 166%).
Return on Equity Leap
Annualized return on equity of 31% for the half, up from 13% in the same half last year, reflecting strong profitability and capital efficiency.
Loan Book Growth and Mix
Group loan book up 9% to $857M; Australian loan book up 17% (Australia now 61% of group), New Zealand loan book up 5% in local currency. Management expects year-end loan book to exceed $900M.
Revenue and Margin Expansion
Revenue rose 12% to $71.9M. Portfolio interest rate at 17.2%; funding rate reduced to 7%. Net interest margin rose 130 basis points to 10.3%, and risk-adjusted income improved 110 basis points to 6.4%.
Stellare 2.0 Driving Origination and Efficiency
Stellare 2.0 deployment cited as key driver: New Zealand originations surged (management cites +49% in NZ originations; elsewhere 27% uplift in originations referenced), improved conversion rates, and operating leverage from automation contributing to efficiencies.
Best-in-Class Operating Efficiency
Cost-to-income ratio reported at ~18.5% (market-leading; down from FY25's 18.9%), demonstrating scalable operations as the loan book grows.
Strong Credit and Collections Metrics
90+ day arrears improved to 58 basis points (down from 64 bps), positioned well below Australian market averages; credit losses remain within target range at 3.9%.
Robust Funding and Liquidity Position
Refinanced corporate debt with an Australian Big-4 bank; warehouse facilities with 3 Big-4 banks and total warehouse capacity ≈ $1B. Closed the half with $24M unrestricted cash after a $7.5M corporate debt repayment.
Upgraded FY26 Guidance
Upgraded FY26 cash NPAT guidance to $13M (a $1M / 8% upgrade versus prior guidance), representing a 128% increase on last year's record result per management.
Compounding Customer Flywheel and Unit Economics
Customer lifetime behavior: average new loan $18k and customers borrow an additional ~150% over time. Acquisition cost around 5.6% (≈$1k per new $18k loan); repeat-lending CAC near zero, average time to second loan ~15 months, and ~4.8/5 customer satisfaction from 60,000+ reviews.
Product and Growth Initiatives
Auto loan product showing early traction (vehicle loan book +18% YoY); mobile app pilot underway (App Store target Q4 Apr-Jun); roadmap for revolving credit and embedded finance partnerships to accelerate customer returns.
Capital Efficiency and Scalability
Borrowings fund ~96% of loan book; required cash contribution ~$34M. Management states current cash + entitlements (~$29M) can support growing loan book to ~$1.5B without equity, and each $1M of profit can fund ~$25M of additional loan book.
HMY Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
HMY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Mar 11, 2026 | $18.95 | $16.87 | -10.98% |
Aug 28, 2025 | $14.61 | $12.56 | -14.04% |
Mar 04, 2025 | $9.90 | $10.41 | +5.10% |
Sep 05, 2024 | $8.89 | $8.80 | -1.00% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Harmony Gold Mining Co. Ltd (HMY) report earnings?
Harmony Gold Mining Co. Ltd (HMY) is schdueled to report earning on Sep 01, 2026, Before Open (Confirmed).
What is Harmony Gold Mining Co. Ltd (HMY) earnings time?
Harmony Gold Mining Co. Ltd (HMY) earnings time is at Sep 01, 2026, Before Open (Confirmed).
Where can I see when companies are reporting earnings?
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What is HMY EPS forecast?
HMY EPS forecast for the fiscal quarter 2026 (Q4) is 1.3.